Meritage Homes Co. (NYSE:MTH – Get Rating) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $115.14.
Several equities analysts have issued reports on MTH shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of Meritage Homes in a report on Wednesday, May 3rd. StockNews.com raised Meritage Homes from a “hold” rating to a “buy” rating in a report on Tuesday, May 16th. Wedbush restated an “outperform” rating and issued a $132.00 target price on shares of Meritage Homes in a research note on Wednesday, April 12th. KeyCorp raised their target price on shares of Meritage Homes from $104.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, February 6th. Finally, Credit Suisse Group upped their price target on shares of Meritage Homes from $106.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, February 3rd.
Insider Activity at Meritage Homes
In other news, CEO Phillippe Lord sold 5,400 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $110.00, for a total transaction of $594,000.00. Following the completion of the sale, the chief executive officer now owns 44,441 shares of the company’s stock, valued at $4,888,510. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Meritage Homes news, CEO Phillippe Lord sold 5,400 shares of Meritage Homes stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $110.00, for a total transaction of $594,000.00. Following the transaction, the chief executive officer now directly owns 44,441 shares of the company’s stock, valued at $4,888,510. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raymond Oppel sold 5,000 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $110.22, for a total transaction of $551,100.00. Following the completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $1,102,200. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,800 shares of company stock valued at $2,071,177. 1.80% of the stock is owned by corporate insiders.
Institutional Trading of Meritage Homes
Meritage Homes Price Performance
Shares of MTH opened at $117.37 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.89 and a current ratio of 1.89. The stock has a market capitalization of $4.29 billion, a PE ratio of 4.79 and a beta of 1.58. The company has a 50 day moving average price of $120.21 and a 200-day moving average price of $105.50. Meritage Homes has a fifty-two week low of $62.51 and a fifty-two week high of $130.68.
Meritage Homes (NYSE:MTH – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The construction company reported $3.54 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $1.03. Meritage Homes had a return on equity of 23.99% and a net margin of 14.44%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the business posted $5.79 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Equities analysts predict that Meritage Homes will post 15.38 earnings per share for the current fiscal year.
Meritage Homes Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, June 14th. This represents a $1.08 dividend on an annualized basis and a yield of 0.92%. Meritage Homes’s dividend payout ratio is currently 4.41%.
Meritage Homes Company Profile
Meritage Homes Corp. engages in the design and construction of single family attached and detached homes. It operates through the Homebuilding and Financial Services segments. The Homebuilding segment acquires and develops lands, constructs homes, markets and sells those homes, and provides warranty and customer services.
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